Home Maintenance Cost Calculator (1% and Square-Foot Rules)
Enter the home value, size and age to plan a maintenance budget.
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Home Maintenance Cost Calculator (1% and Square-Foot Rules) by TheCalcTools
How the Home Maintenance Cost Calculator (1% and Square-Foot Rules) works
Two common rules of thumb: set aside about 1% of the home’s value each year, or about $1 per square foot. Neither is exact: climate, construction and how well the home was kept matter more.
Older homes need more as roofs, heating systems and plumbing reach the end of their life. This calculator raises the budget 25% for homes 10 to 29 years old and 50% for older homes, a planning assumption you can override by changing the rules.
The formula
Worked example
Using the default values shown in the calculator:
| Home value | $400000 |
|---|---|
| Size (sq ft) | 2000 |
| Share of value per year | 1 % |
| Budget per square foot per year | $1 |
| Age of the home (years) | 25 |
- A 25-year-old 400,000 home of 2,000 sq ft: $2,500 to $5,000 a year.
- Set aside about $312 a month.
Result:
| Yearly budget (lower of the two rules) | $2,500 |
|---|---|
| Yearly budget (higher) | $5,000 |
| Monthly set-aside (average) | $312 |
| Age factor applied | 1.25 |
Frequently asked questions
What does maintenance include?
Repairs and replacements: roof, HVAC, water heater, painting, gutters, appliances and so on. It excludes upgrades and renovations.
Sources and further reading
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This calculator gives estimates for information only. It is not financial advice, and your lender's or provider's figures will govern. Rates, fees and rules vary. See our disclaimer.